• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Paypal drops out of partnership with Facebook’s Libra 

Chidinma Nwagbara by Chidinma Nwagbara
October 5, 2019
in Business News, Cryptos, Tech News
Libra, Paypal drops out of partnership with Facebook’s Libra 
Share on FacebookShare on TwitterShare on Linkedin

Online payments company, Paypal has announced that it is no longer in partnership with Facebook’s Libra. This announcement makes Paypal the first company to officially back out of the cryptocurrency’s association. 

[READ MORE: Facebook deletes multiple accounts in Nigeria, others]

In a statement, Paypal said that the decision was made in order for the company to focus more on its business and services but said it would continue to support Facebook in the future. 

RelatedStories

Lagos Assembly vows to defend Speaker Meranda amid Obasa’s insistence on Speakership 

Lagos Assembly orders Uber, Bolt, others to submit agreements, audit driver payments 

June 19, 2025
Visa appoints Aminata Kane as Head of Western and Central Africa 

Visa appoints Aminata Kane as Head of Western and Central Africa 

June 18, 2025

“PayPal  has made the decision to forgo further participation in the Libra Association  at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations,  

“We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future. Facebook has been a longstanding and valued strategic partner to PayPal, and we will continue to partner with and support Facebook in various capacities,” the statement read.  

Paypal drops out of partnership with Facebook’s Libra 

Facebook’s response: Commenting on the fall out with Paypal, the Libra Association in a statement said that it required a certain boldness and fortitude to take on an endeavour as ambitious as Libra and that commitment to the mission is important and so knowing about this lack of commitment by Paypal is better off now than later. 

What this means: For Paypal to walk away from Libra right now even before the project has been launched is a big blow to Facebook and the Libra Association in general. This is even more critical considering the fact that Libra has been struggling under the weight of speculation from regulators and organisations at large.  

Regulators and government bodies have been scrutinizing Facebook and its cryptocurrency with concerns over how a Facebook-backed and promoted currency could lead to anti-competitive behaviour. 

[READ ALSO: 7 key takeaways from Facebook’s Cryptocurrency, Libra]

What you should know: Since Paypal is out, Libra’s list of partners now include Mastercard, Visa, Stripe, eBay, Uber, Lyft, Spotify, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Mercy Corps, and Women’s World Banking, among others. 

 


Follow us for Breaking News and Market Intelligence.
Tags: Andreessen HorowitzCoinbaseeBayFacebookFacebook Accelerator NigeriaLibraLibra AssociationLyftMastercardMercy CorpsPaypalSpotifyStripeUber NigeriaUnion Square VenturesVisaWomen’s World BankingXapo
Chidinma Nwagbara

Chidinma Nwagbara

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - chidinma.nwagbara@nairametrics.ng

Related Posts

Lagos Assembly vows to defend Speaker Meranda amid Obasa’s insistence on Speakership 
Business News

Lagos Assembly orders Uber, Bolt, others to submit agreements, audit driver payments 

June 19, 2025
Visa appoints Aminata Kane as Head of Western and Central Africa 
Companies

Visa appoints Aminata Kane as Head of Western and Central Africa 

June 18, 2025
Lagos Assembly summons Uber, Bolt, Indrive, Rida, LagRide over labour rights violations 
Sectors

Lagos Assembly summons Uber, Bolt, Indrive, Rida, LagRide over labour rights violations 

June 17, 2025
Visa and Microsoft partner to empower Nigeria’s fintech ecosystem at AI skills week 
Companies

Visa and Microsoft partner to empower Nigeria’s fintech ecosystem at AI skills week 

June 12, 2025
United States extends period for work permits for non-citizens
Education

US orders embassies worldwide to resume visa processing for Harvard students 

June 10, 2025
Fuel price hike: Uber drivers ask for more as platform increases fares by 13% 
Op-Eds

Why booking a ride in Nigeria now means hopping into a jalopy 

May 11, 2025
Next Post
Dangote's plant seeks total ban of tomatoes import , Fear among tomato farmers as Dangote Farms suspends seedlings distribution  

Dangote Tomatoes CEO seeks total ban on tomato import 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Dangote Plant: Dantata and Sawoe accused of failing to settle $1.4 million debt terms 
  • UK says Nigeria will continue to enjoy duty-free access on 99% of exports  
  • Nigeria launches REV-OP to transform public finance and tackle revenue leakage

Follow us on social media:

Recent News

Dangote Plant: Dantata and Sawoe accused of failing to settle $1.4 million debt terms 

Dangote Plant: Dantata and Sawoe accused of failing to settle $1.4 million debt terms 

June 20, 2025
UK says Nigeria will continue to enjoy duty-free access on 99% of exports  

UK says Nigeria will continue to enjoy duty-free access on 99% of exports  

June 20, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics